ECONOMY & INFRASTRUCTURE
Economic Affairs
GST Revenue Hits ₹1.83 Lakh Crore in February 2026, Recording 8.1% Growth
India's gross Goods and Services Tax (GST) collections for February 2026 reached ₹1.83 lakh crore, marking an 8.1% year-on-year increase.
This consistent rise reflects robust domestic consumption and improved tax compliance across various sectors.
The GST system currently operates under four primary tax slabs: 5%, 12%, 18%, and 28%, along with a special 40% rate for specific items.
Impact: The steady growth in collections provides the government with higher fiscal headroom for infrastructure and welfare spending.
This consistent rise reflects robust domestic consumption and improved tax compliance across various sectors.
The GST system currently operates under four primary tax slabs: 5%, 12%, 18%, and 28%, along with a special 40% rate for specific items.
Impact: The steady growth in collections provides the government with higher fiscal headroom for infrastructure and welfare spending.
Key Facts / Static GK
GST Implementation Date: 1 July 2017
GST Slogan: One Nation, One Tax
Article related to GST Council: Article 279A
GST Slogan: One Nation, One Tax
Article related to GST Council: Article 279A
Practice Quiz — 2 March 2026
Q1. Who has been appointed as the interim head to manage the daily operations of Fino Payments Bank following the arrest of its CEO?
Answer: (B) Ketan Merchant — Ketan Merchant, who serves as the Chief Financial Officer (CFO), has been appointed as the interim head of Fino Payments Bank after the arrest of MD & CEO Rishi Gupta.
Q2. Which South Korean filmmaker has been appointed as the President of the Main Competition Jury for the 79th Cannes Film Festival?
Answer: (B) Park Chan-wook — Park Chan-wook is the first South Korean filmmaker to be selected to lead the main jury at the Cannes Film Festival.
Q3. Regarding the recently inaugurated semiconductor ATMP facility in Gujarat, which of the following statements is correct?
Answer: (C) It is the first proposal approved under the India Semiconductor Mission. — The Sanand facility by Micron Technology is indeed the first proposal approved under the India Semiconductor Mission (ISM) with an investment of over ₹22,500 crore.
Q4. Which authority launched the 'Government Bank Dashboard' and 'Government Bank Manual' to improve governance in handling government funds?
Answer: (C) Controller General of Accounts (CGA) — T.C.A. Kalyani, the Controller General of Accounts (CGA), launched these two initiatives to standardize banking procedures for government business.
Q5. From which country were the nine cheetahs recently brought to Kuno National Park in March 2026?
Answer: (C) Botswana — As per the announcement by Union Minister Bhupender Yadav, nine cheetahs were brought specifically from Botswana to Kuno National Park.
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